TOKYO: Japan’s top government spokesperson warned again on Friday (Sep 2) that the authorities were watching currency moves with a high sense of urgency, as the yen slid to a fresh 24-year low against the dollar.
“It’s important for currencies to move stably reflecting fundamentals. Sharp volatility is undesirable”, Chief Cabinet Secretary Hirokazu Matsuno told a news conference.
“Currency market volatility is heightening recently, so the government will closely watch exchange-rate moves with a high sense of urgency”, he said, repeating comments he made on Thursday.
The dollar hit a new 24-year high of 140.23 yen in overnight trading on Thursday, breaking above the psychologically-important 140 threshold on prospects of aggressive US interest rate hikes. The dollar stood at 140.02 yen in early Asia trade on Friday.